"SEC--lawyer Harvey Pitt, whose firm has represented Arthur Andersen,
each of the Big Five and Ivan Boesky, whose fraud case was settled for
$100 million. Pitt blames Arthur Levitt's inquiries for upsetting the accounting industry's self-regulation.
Given his connections, Pitt should not just recuse himself from the Enron case--a crisis of legitimacy for the SEC--he should be compelled to resign. Similarly sympathetic cops are scattered throughout the regulatory agencies. At the Federal Reserve, a new governor, Mark Olson, headed "regulatory consulting" in Ernst & Young's Washington office. Another new Fed governor, Memphis banker Susan Bies, has been an active opponent of strengthening derivatives regulation. "
....................................................................................................
"Congressional investigators have learned this week that some Enron executives,
concerned about the company's finances, sought legal counsel on their own from
lawyers outside the company before the financial disclosures last fall that ultimately
led to Enron's bankruptcy in December.
Last night, SALON.com reported that an ENRON corporate lawyer, Jordan
Mintz, last summer hired a New York law firm, Fried Frank Harris Shriver & Jacobson,
to take another look at the company's financial structure. Fried Frank, where the
S.E.C. CHAIRMAN, HARVEY L. PITT, worked until last fall, recommended that Enron end
its deals with the partnerships. There was no response to a message left last night at
Mr. Mintz's home in Houston."
The above is an excerpt from, "Enron's Chief Sold Shares After Receiving Warning Letter
January 18, 2002
THE AUDITOR
The New York Times
By RICHARD A. OPPEL Jr. and JONATHAN D. GLATER
See:http://www.siliconinvestor.com/readmsg.aspx?msgid=16932867
Karen, the public should demand that Pitt step aside! JMOP |
